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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
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- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
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